refining-faq

refining-faq

Refining FAQ

REFINING FREQUENTLY ASKED QUESTIONS

ELIGIBILITY

Terms & Conditions

Terms and Conditions

Who can sell to GRAMMCO?

Our typical clients are jewelers, coin dealers, dentists, dental laboratories, pawn shops, industrial companies, and other businesses dealing in precious metals. Scrap gold such as jewelry can only be sold to us by businesses in the trade. However, private individuals are able to sell GRAMMCO recognized bullion coins and bars of gold, silver, platinum, and palladium.

What types of material does GRAMMCO buy?

Materials info

MELTING AND ASSAYING

Can I send in material just to be tested?

Yes. You can send in material just for testing. The fees for testing are as follows:

A $50 handling fee

Return shipping fee (if not done in person)

Please note that your scrap material will be damaged in the process of being tested and assayed. As a result, if you request your material to be returned to you, it will not be returned in the same condition as it was received.

If you have any questions about services offered, please feel free to call us at 800-451-3599 (Monday through Friday, 8:00 a.m. to 4:30 p.m. PST)

How will GRAMMCO test my scrap material?

We melt and test your precious metal scrap through one of several methods, including XRF, Fire Assay and Inductively Coupled Plasma (ICP).

Please note that your scrap material will be damaged in the process of being tested and assayed. As a result, if you request your material to be returned to you, it will not be returned in the same condition as it was received.

How much melt lost should I expect if my material is melted?

Whenever your material is melted, there will be a decrease in its weight due to the burning process whereby impurities such as alloys are eliminated. A decrease in weight may also occur as gemstones, enamel or other imbedded metals are separated and retained in borax (a cleansing substance). The average loss in purely metallic material (without gemstones) may be as much as 1%. This will increase if your items include gemstones. Materials such as gold filings may lose up to 30% of their weight, depending on how clean they are — the greater the contamination, the higher the melt loss. Melt loss may also vary depending on the presence and amount of extras such as teeth and composites from dentures. To aid in melting of substances containing palladium or platinum, copper may need to be added to dental melts. In such cases, the melt loss is difficult to estimate and will vary from cases to case.

PRICING

How much does GRAMMCO pay for scrap material?

We have some of the most competitive buying prices in the industry. Please call us at 800-451-3599 to receive a current payout schedule.

Can I book a price shown online?

Yes. Our Refining Division allows you to eliminate the uncertainty of the market by reserving current prices for a specific quantity of precious metal. For more details on how to book a price, as well as all of our policies and procedures please call us at 800-451-3599.

At what point is my price locked in?

No. An order can only be booked by contacting one of our customer service representatives. For complete booking details you can call 800-451-3599 (Monday through Friday, 8:00 a.m. to 4:30 p.m. PST).

SETTLEMENT AND PAYMENT

When do I get paid?

Depending on the payment option you select, you may receive your payment within as little as 24 hours of the settlement of your package. For an estimated turnaround time, call us at 800-451-3599.

What are my settlement options?

You can choose from a wide range of settlement options that include:

Company check

Bank wire (after submitting a Bank Wire form)

Fine gold grain

Precious metal products normally carried by GRAMMCO

A credit to the funds on your account

We will send your payment by regular mail unless otherwise instructed. You may request payment to be sent via FedEx or have your funds wired to you for the cost of such transaction (within the United States and Canada).

We will not send any third-party payments. Payments can only be sent to individuals and addresses listed in your GRAMMCO account.

To add another person or address to your account or to change the primary address on file, please send a written request by email (info@greatamericanmint.com) or mail (Great American Mint Partners, LLC., 1020 North Armando Street, Anaheim, CA 92806) and make sure to include your signature and a legible copy of a valid, government-issued photo identity document (driver’s license, passport, etc.).

You may choose to have your material returned to you at any point in time up until its settlement. If you choose to have your material returned BEFORE it has been tested, the following fees will apply:

return shipping fee (depending on weight and method of shipping)

cancellation fee of at least $50 (if your order has been booked)

If you choose to have your material returned AFTER it has been tested, the following fees will apply:

a $70 handling fee

any applicable processing fees (e.g. melt and assay fees)

return shipping fee (depending on weight and method of shipping)

a minimum cancellation fee of $50 (if your order has been booked)

Please note that after you have accepted any form of settlement, the material becomes the property of GRAMMCO. Material cannot be returned once it has been settled. We offer bullion as a settlement option for scrap material. For details, call 800-451-3599 (Monday through Friday, 8:00 a.m. to 5:00 p.m. PST).

What will happen if GRAMMCO rejects my package after I have booked a price?

If we reject a package that you send us after you have booked a price, we will contact you to advise you of the rejection of your package. Your booking will still be honored by us provided that you advise us of the new shipping tracking number, and that we receive the package within 10 days of the initial rejection. If these conditions are not met, you will be charged a cancellation fee.

SHIPPING

Do I have to complete a packing slip online before shipping my material?

Yes, we require a packing slip to be included with any material sent to GRAMMCO. The packing slip and associated reference number on the outside of your package ensure that we have the necessary information required to process your transaction without delays.

Note however, that you must have a GRAMMCO account setup before you can fill out a packing slip completely.

How should I package my material for shipping to GRAMMCO?

To ship your precious metals to our Refining Division:

Create a packaging slip after weighing and identifying your material. Note that you must have a GRAMMCO account to create a packing slip and that you will have to enter your GRAMMCO account number into the packing slip. You can create a packing slip online or call 800-451-3599 for assistance (Monday through Friday, 8:00 a.m. to 4:30 p.m. PST)

Print a copy of your packing slip and place it inside the package with the material. If more than one box is needed, please include a copy of the packing slip in each package and indicate on each package that it is part of a set of multiple packages by writing: Multiple Packages – 1 of 3, Multiple Packages – 2 of 3, and so on.

Use heavy-duty boxes with strong packing tape and double-box your materials. Pack them so that items do not move around during shipping. Please do not overstuff your packages. Shipments that are received by us in a damaged condition will be refused and returned to you for a content audit at your expense.

Where should I ship my material?

You should ship your material to our Anaheim, California facility at 1020 North Armando Street
Anaheim, CA 92806. The full address and instructions will appear automatically on your GRAMMCO packing slip.

Please note that GRAMMCO is not responsible for customs clearing, duties, or transportation on any package. All costs relating to these issues remain your sole responsibility. GRAMMCO will also not provide any letters of guarantee or credit.

Will GRAMMCO ever refuse my package?

Yes. If your package appears to have been tampered with, we will refuse to take delivery of it and have returned to you by the respective carrier for a content audit at your expense.